More Advisors for Asset Sale

The government has expanded the list of investment banks that will advise it on its planned $59 billion state asset sale program over the next five years.

Previously 10 banks had been selected — including Morgan Stanley, Credit Suisse, Renaissance Capital and VTB Capital — in October for its asset sales starting next year. Thirteen more lenders were added to the list, according to a Dec. 20 decree posted on the Central Bank web site late Sunday.

Sberbank, Alfa Bank, and Troika Dialog are among those added, along with BNP Paribas, Citigroup, Royal Bank of Scotland and UBS, according to the decree.

Russia plans to raise 1.8 trillion rubles ($59 billion) in asset sales over five years to help balance the budget.